Strategy: UBS has strategy report. Note that SG stocks Oversold on global growth fears and recent underperformance of Spore stocks reflects heightened fears of a global slow down, as SG itself is not particularly exposed to turmoil in MENA, high oil prices or the crisis in Jap. Recommend a strategy combining high-quality yield stocks with oversold blue chips likely presents the best opportunities……
Yield stocks key picks include Ascendas REIT, CDL HTrust, CMT and SingTel, while Oversold blue chips are: OCBC, Genting SP, Olam and KepLand which could present tactical value as respective near term business case is intact. Think SIA and CapitaLand are cheap but may lack re-rating catalysts.
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